Title: Subrecipient Awards
Accounting Policies: The accompanying schedules of expenditures of federal and state awards (the "Schedules") include the federal and state
award activity of the District under programs of the federal and state government for the year ended June 30, 2024. The
information in these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and State Single
Audit Guidelines, issued by the Wisconsin Department of Administration. Because the Schedules present only a selected
portion of the operations of the District, it is not intended to, and does not, present the financial position, changes in net
position, or cash flows of Nicolet Area Technical College District. Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or
limited as to reimbursement. Negative amounts shown on the Schedules represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
The District does not have subrecipients of its federal or state awards.
Title: Reconciliation
Accounting Policies: The accompanying schedules of expenditures of federal and state awards (the "Schedules") include the federal and state
award activity of the District under programs of the federal and state government for the year ended June 30, 2024. The
information in these Schedules is presented in accordance with the requirements of Title 2 U.S. Code of Federal Regulations
Part 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards and State Single
Audit Guidelines, issued by the Wisconsin Department of Administration. Because the Schedules present only a selected
portion of the operations of the District, it is not intended to, and does not, present the financial position, changes in net
position, or cash flows of Nicolet Area Technical College District. Expenditures reported on the Schedules are reported on the accrual basis of accounting. Such expenditures are recognized
following the cost principles contained in the Uniform Guidance, wherein certain types of expenditures are not allowable or
limited as to reimbursement. Negative amounts shown on the Schedules represent adjustments or credits made in the
normal course of business to amounts reported as expenditures in prior years.
De Minimis Rate Used: N
Rate Explanation: The District has not elected to use the 10-percent de minimis cost rate as allowed under the Uniform Guidance.
Federal revenues per statement of revenues, expenses, and changes in net position of $2,280,918 plus financial aid not recognized as revenue Federal Direct Loans of $798,743, totals the revenue on the Schedule of Expenditures of Federal Awards ($3,079,661).
State revenue from the Schedule of Expenditures of State Awards $19,127,290, plus state aid not recognized as revenue ($406,923) less Wisconsin Economic Development Corporation ($5,464), Personal Property Aid ($16,768), Payments in Lieu of Taxes ($23,856), and Aid in Lieu Computer Taxes ($3,722).